Housing market favouring first-home buyers as more low-deposit loans approved
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The housing market appears to still be in favour of first-home buyers, with more than half of loans this year done at 20% equity.
Cotality data shows up to 60% of recent lending has been on a two-year fixed rate, up from less than 20% in November last year.
In June, around 16% of lending went to owner-occupiers with less than a 20% deposit.
Cotality chief economist Kelvin Davidson told Mike Hosking house prices have fallen so low, the risk of negative equity has pretty much disappeared.
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